Relief is available by way of a reduction of tax otherwise payable where a group of leaseholders purchase the freehold of the property by exercising certain rights under the Landlord and Tenant Act 1987 or the Leasehold Reform, Housing and Urban Development Act 1993.

More specifically, the relief applies where a chargeable transaction is entered into by a person or persons nominated or appointed by qualifying tenants of flats contained in premises in exercise of:

a right under the Landlord and Tenant Act 1987, Part 1 (right of first refusal) or

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